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20130212
20130212
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panetta spoke at a pentagon farewell ceremony. he talked about north korea and called on congress to end the uncertainty posed by pending budget cuts known as sequestration. mr. panetta will stay in his position until his successor is confirmed. president obama has nominated former senator chuck hagel to be his replacement. this is half an hour. [applause] >> halt. present. halt. ♪ o say can you see by the dawn's early light snule what so -- what so proudly we hailed at the twilight's last gleaming whose broad stripes and bright stars through the perilous fight o'er the ramparts we watched were so gallantly streaming and the rockets red glare the bombs bursting in air gave proof through the night that our flag was still there o say does that star spangled banner yet wave oaer the land of the free and the home of the brave ♪ >> please be seated. >> ladies and gentlemen, the director of administration and management, mr. michael rhodes. >> well, welcome, everybody. thank you very much for being here today. as we have an opportunity for the secretary's farewell address to the pentagon c
federal government except the pentagon. all of a sudden the last couple of months hitting this arbitrary political target is vital. what is vital, as i said, is having a deficit strategy that's consistent with sound economic growth and making sure that we strengthen the middle class and that means as a first step to make sure that our deficits, as the economy improves, as we grow, that our deficits are not growing faster than g.d.p. and that we stabilize the debt as a percentage of g.d.p. because if you don't, as the economy improves, higher government borrowing -- we need to adopt that strategy and adopt it now. have it kicked in over a period of time. we just got very good news that the rate of per capita increase in health care costs is actually at the lowest level of 50 years. we need to continue to adopt strategies to keep that -- those costs increase low. as as demographic changes means baby boomers retire and we clearly need to keep working on those issues. but let me just sum up where we are in terms of our deficit reduction targets. over the last little over two years we have no
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